Atlas Air Worldwide's third-quarter profit jumps to $32.4 million

Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, posted third-quarter net income of $32.4 million, four-and-a-half times more than a net profit of $7.1 million in the year-ago quarter.
President and CEO William Flynn said the positive earnings resulted from its ongoing effort to "optimize" its fleet of 32 747-200/-400 freighters and cut costs. He noted that aircraft utilization was up 4.1% to more than 11.4 hr. daily. Cost-cutting and efficiency initiatives provided $15 ...